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Sure Save USA Self-Storage Sold for $3.4M

Sure Save USA Self-Storage, an 117,155-square-foot self-storage facility in New Orleans, sold for $3.4 million. The facility consists of 736 units, 640 of which are climate-controlled.

The property was built in 2005 and completed in 2006. It’s positioned with 1,529 feet of frontage on three surrounding roads and located less than a mile from Interstate 10. Amenities include elevators, digital-surveillance cameras, roll-up doors, RV parking and a manager’s office.

Michael A. Mele, vice president of investments and senior director of the National Self-Storage Group in the Tampa, Fla., office of Marcus & Millichap Real Estate Investment Services, had the exclusive listing to market the property on behalf of the seller, a financial institution based out of Ohio and the buyer, a California-based real estate investment trust. Broker William Hoffpauir assisted in the transaction’s closing.

With more than 1,200 investment professionals in offices nationwide, Marcus & Millichap is the nation’s largest firm specializing in commercial real estate investments. The company closed 3,441 transactions in 2009.